Securities code: 600237 Securities abbreviation: Tongfeng Electronic Number: Lin 2020-042

Suggestive Announcement of Anhui Tongfeng Electronic Co., Ltd. on the progress of share auction and the proposed change of controlling shareholders and actual controllers

The board of directors and all the directors of the Company warrant that there is no false record, misleading statement or material omission in the content of this announcement, and bear individual and joint liability for the authenticity, accuracy and completeness of the content.

The bankruptcy administrator of Anhui Tongfeng Electronics Group Co., LTD. (hereinafter referred to as the "Company or Company"), the former controlling shareholder of Anhui Tongfeng Electronics Group Co., LTD. (hereinafter referred to as the "Tongfeng Group"), entrusted the auction agency, From 10 o 'clock on October 15, 2020 to 10 o 'clock on October 16, 2020 (except for delay), all shares held by Tongfeng Group will be publicly auctioned on the online auction platform of China Association of Auction Industries (http://www.caa123.org.cn). On October 16, 2020, Tongling Dajiang Investment Holding Co., LTD. (hereinafter referred to as "Dajiang Investment") won all 94,561,280 shares of the Company held by Tongfeng Group, the Company's former controlling shareholder, at the highest price (for details, see the relevant announcements of the Company on September 29 and October 17, 2020 in designated information disclosure media). The relevant auction money has been paid up. Regarding this share auction, Tongling Intermediate People's Court has issued a civil ruling, and now the relevant information is announced as follows:

I. Changes in equity of this time

On October 19, 2020, the Company received the Civil Decision (2020) No. 2 of Wan 07 Po issued by the Intermediate People's Court of Tongling City, Anhui Province on October 16, 2020. The court ruled as follows:

"1. The ownership of 94,561,280 non-saleable shares of Anhui Tongfeng Electronics Co., LTD. (hereinafter referred to as" Tongfeng Electronics ", stock code: 600237) held by Anhui Tongfeng Electronics Group Co., Ltd. and the corresponding other rights shall be owned by the buyer, Tongling Dajiang Investment Holding Co., LTD.

2. The buyer, Tongling Dajiang Investment Holding Co., LTD., may go through the relevant property rights transfer registration procedures at the property management authority with this ruling.

This ruling shall take effect upon service."

This auction will also involve the subsequent transfer of ownership changes. If the subsequent transfer procedures of ownership changes are completed, the controlling shareholders and actual controllers of the Company will change.

Ii. The impact of this equity change on the Company

After the completion of the subsequent change of ownership transfer procedure of this auction, Tongfeng Group will no longer hold shares of the company, the controlling shareholder of the company will no longer be Tongfeng Group, and the actual controller will no longer be Ying Jianren. Dajiang Investment will hold 94,561,280 shares of the Company, accounting for 16.76% of the total share capital of the Company. The controlling shareholder of the Company will be changed to Dajiang Investment, and the actual controller will be changed to the Management Committee of Tongling Economic and Technological Development Zone.

Iii. Other relevant explanatory matters

1. Regarding the above changes in rights and interests, Dajiang Investment, the obligatory information disclosure agent, will issue a detailed Report on Changes in Rights and Interests.

2. This auction will involve the subsequent transfer of equity change, and there is still uncertainty whether it will be completed. The Company will pay close attention to the subsequent progress of the matter and fulfill the obligation of information disclosure in a timely manner in accordance with relevant provisions.

3. The Company's designated media for information disclosure are China Securities Journal, Shanghai Securities Journal, Securities Daily, Securities Times and the website of Shanghai Stock Exchange (http://www.sse.com.cn). The information released by the company shall be subject to the information disclosed in the above designated media.

This is to announce.